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PROGRAMAS
Interest-Only
Pay only the interest—not the principal—for up to 10 years FIXED!
► Frees up more of your monthly cash
► Use the savings to qualify for more homes
► Ideal mortgage loan for those planning to move or refinance soon
Fixed Rate
For those planning to stay in a home for more than five years
► Fixed-rate mortgage for rate stability
► Fixed payments for the life of your loan
► Protects from rising home loan rate increases
Fixed ARMs
For those planning to move or refinance within the initial fixed loan period.
► Offers fixed rate stability for up to 10 years
► Free up cash with this affordable home loan
► Buy more home or minimize monthly payments
Vacation homes [Second Homes]
► Same great rates and points as a primary mortgage
► No premium to pay!
► New purchase or refinance loans available
► Use your home equity as a down payment
NO INCOME VERIFICATION: Loans where your income is not requested or verified are stated income loans. There are several varieties of the "no-doc" loan today. Basically the type of loan that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose employment, income or asset information, while others may be willing to disclose employment and asset information but not income. Still others might be willing to disclose even income but select a program that doesn't calculate debt-to-income ratios allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount. With all the different variations of the no-doc loan, there is definitely a mortgage program for today's non-conventional borrowers.
CONVENTIONAL: Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and fair to good credit are necessary.
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Other Programs
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CONVENTIONAL - Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and fair to good credit are necessary. back to top
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NO INCOME VERIFICATION - Loans where your income is not requested or verified are stated income loans. There are several varieties of the "no-doc" loan today. Basically the type of loan that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose employment, income or asset information, while others may be willing to disclose employment and asset information but not income. Still others might be willing to disclose even income but select a program that doesn't calculate debt-to-income ratios allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount. With all the different variations of the no-doc loan, there is definitely a mortgage program for today's non-conventional borrowers. back to top
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NO DOWN PAYMENT – 0% Down payment required and closing costs paid by the borrower (seller can contribute up to 6% towards closing costs). back to top
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CREDIT PROBLEMS - Troubled credit? Bankrupcy? Been turned down somewhere else? We offer loan programs for customers with credit problems. back to top
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103% PURCHASE – 0% Down payment required and closing costs can be financed up to 107% of the purchase price. Only single-family homes that will be owner occupied are eligible. First time homebuyer status not required and there are no income limits. back to top
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80/20 - This is a loan which carries a second mortgage for up to 20% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 20% of the purchase price. back to top
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JUMBO LOANS - Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.
Cash out and No cash out refinance are allowable. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty. back to top
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FLEX 97% - Similar to FHA but without maximum mortgage amount limitations. Must be a single family, owner occupied home and borrower must have a credit score of over 680. back to top
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A- THRU D LOANS – These mortgages are for the credit challenged. They can vary from slightly damaged credit to severely damaged. Whatever the situation we have a mortgage that will get you back on track. back to top
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2ND MORTGAGE LOANS – Subordinate to the first mortgage these loans offer the borrower the ability to get money for home improvement, debt consolidation or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage. back to top
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HIGH DEBT RATIO LOANS - Borrowers having the ratio of their monthly bills to their monthly income higher than 50% is considered a high debt ratio. Loan programs are available for these borrowers, allowing them to finance the purchase of a home or property. back to top
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CONSTRUCTION LOANS - Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that's overly complicated and time consuming. With this loan we will finance up to 90% of the cost of land plus the costs of construction. We offer a one time fixed rate closing or the traditional ARM products. back to top
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INVESTOR LOANS – Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced these programs have many variations such as NO DOC, LIMITED DOC and FULL DOC. PROGRAM NOT AVAILABLE IN NEW YORK.
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CONVENTIONAL - Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and fair to good credit are necessary. back to top
^TOP
NO INCOME VERIFICATION - Loans where your income is not requested or verified are stated income loans. There are several varieties of the "no-doc" loan today. Basically the type of loan that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose employment, income or asset information, while others may be willing to disclose employment and asset information but not income. Still others might be willing to disclose even income but select a program that doesn't calculate debt-to-income ratios allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount. With all the different variations of the no-doc loan, there is definitely a mortgage program for today's non-conventional borrowers. back to top
^TOP
NO DOWN PAYMENT – 0% Down payment required and closing costs paid by the borrower (seller can contribute up to 6% towards closing costs). back to top
^TOP
CREDIT PROBLEMS - Troubled credit? Bankrupcy? Been turned down somewhere else? We offer loan programs for customers with credit problems. back to top
^TOP
103% PURCHASE – 0% Down payment required and closing costs can be financed up to 107% of the purchase price. Only single-family homes that will be owner occupied are eligible. First time homebuyer status not required and there are no income limits. back to top
^TOP
80/20 - This is a loan which carries a second mortgage for up to 20% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 20% of the purchase price. back to top
^TOP
JUMBO LOANS - Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.
Cash out and No cash out refinance are allowable. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty. back to top
^TOP
FLEX 97% - Similar to FHA but without maximum mortgage amount limitations. Must be a single family, owner occupied home and borrower must have a credit score of over 680. back to top
^TOP
A- THRU D LOANS – These mortgages are for the credit challenged. They can vary from slightly damaged credit to severely damaged. Whatever the situation we have a mortgage that will get you back on track. back to top
^TOP
2ND MORTGAGE LOANS – Subordinate to the first mortgage these loans offer the borrower the ability to get money for home improvement, debt consolidation or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage. back to top
^TOP
HIGH DEBT RATIO LOANS - Borrowers having the ratio of their monthly bills to their monthly income higher than 50% is considered a high debt ratio. Loan programs are available for these borrowers, allowing them to finance the purchase of a home or property. back to top
^TOP
CONSTRUCTION LOANS - Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that's overly complicated and time consuming. With this loan we will finance up to 90% of the cost of land plus the costs of construction. We offer a one time fixed rate closing or the traditional ARM products. back to top
^TOP
INVESTOR LOANS – Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced these programs have many variations such as NO DOC, LIMITED DOC and FULL DOC. PROGRAM NOT AVAILABLE IN NEW YORK.
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